Home for Sale at 560 River Road, Shelton, CT 06484

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560 River Road
Shelton, CT 06484

Frank D'Ostilio with Houlihan Lawrence WD, original listing - (203) 701-4848

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Property Details

List Price:	$879,000
Beds:	3
Baths:	Full: 3, ½: 1
Status:	Active
SqFt:	3009 Square Feet
Agency:	Houlihan Lawrence WD
Agency Phone:	(203) 701-4848

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Description/Comments

Lot Size:	0 sqft
Garage:	Garage
Property Type:	Residential-Condominium
Year Built:	2014
Notes:	Do not miss this absolutely stunning Shelton Cove waterfront home built by the Toll Brothers! Luxury living with all the amenities and none of the maintenance. Water views on all three levels! As you enter the foyer, you are welcomed by the warmth of the natural light, 9 foot ceilings, and open floor plan, as you soak in the stunning views throughout the main level. Enter the formal dining room and fall in love with the elegant tray ceiling, raised paneling, and custom trim work. Glistening hardwood floors throughout. Gorgeous white custom kitchen features granite counter tops, high end stainless steal appliances, and a center island with stools perfect for all your entertaining needs. Living room with gas fireplace and a deck overlooking the water. Laundry room and half bath conveniently located on the main floor. The second floor boasts two generously sized bedrooms and a full bath as well as a Primary Bedroom with a walk-in closet. Retreat into the ensuite Primary bath complete with custom tile, double sinks, radiant flooring, and frame-less shower with bench seating. Finished lower level creates additional living space with a family room and a full bathroom; ideal for a guest suite! Sliding glass doors open out to a patio to enjoy the breathtaking water views! Attached two car garage. Kayak out your back door (neighboring Beacon Point Marina allows you to dock your boat a stone's throw away). Conveniently located to Route 8 and Route 15
MlsNumber:	--
ListingId:	24056083

Listing Provided By:	Houlihan Lawrence WD, original listing
Phone:	(203) 641-7072
Office Phone:	(203) 701-4848
Agent Name:	Frank D'Ostilio
Disclaimer:	Copyright © 2024 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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